MYEG as the proxy to the GST given its upcoming Custom Monitoring system coming into play has gained investors’ interest recently. Yesterday, the share price surged by 40 sen (+9.37%) to settle at RM4.67. MYEG’s share price has been trading on an uptrend channel and it is hovering above all its 3 key SMAs. Despite the overbought situation shown by the Stochastic readings, we view that the uptrend remained intact with healthy readings from key indicators (MACD and RSI). Thus, we advocate traders should buy into this stock now as we anticipate the share price to continue its bullish trend in the near-term with an immediate target of RM5.10 (R1).

 

 

Source: Kenanga